ComVal leaps 17 notches in Competitiveness Ranking
NABUNTURAN, Compostela Valley — Compostela Valley continues to improve as a premier investment destination, with the province improving 17 notches higher in the Regional Competitiveness Index.
From the 30th spot in 2018, Compostela Valley province now ranks 13th in the List of the Most Competitive Provinces in the Philippines. In 2017, the province holds the 63rd spot in the index.
Among the 81 provinces in the country, the top three most competitive provinces are Rizal, Laguna, and Cavite.
The results were presented during the 7th Regional Competitiveness Summit held at the Philippine International Convention Center in Pasay City on Thursday.
Meanwhile, aside from being a competitive province, Compostela Valley was also hailed as the second richest province in the country.
Based on the 2018 Annual Financial Report on LGUs by the Commission on Audit, Compostela Valley has total assets of PhP 19.615 billion. This figure is only second to the province of Cebu with PhP 35.659 billion worth of assets.
Governor Jayvee Tyron Uy attributed the improvement in the ranking to the enhanced peace and security situation, unity among political leaders, good relationship between the local government units and the private sector, improved processes on doing business, and the support of the national government.
“We consider this award providential as it happened in the time when we are about to change our province’s name from Compostela Valley to Davao de Oro,” Governor Uy said.
The plebiscite for the change of name is set on December 7, 2019. (PIA XI, Michael Uy)